Amazon Amazon stock broke out of the downtrend and looks like it just entered a uptrend. A minor retracement should occur for me to even consider placing buy positions.
AMZN trade ideas
AMZN TSLA NVDA MSFT GOOGL AAPL Technical Analysis Guide- Most tech stocks are still in a healthy daily uptrend but most are testing its support area.
- the size of the pull back will be key for me to determine if we have more fuel for these stocks on the upside
- larger pullback size will allow bears to make moves on the next bounce
$AMZN Still strong, a pull back and reversal back up (?)Decent shooter on the 2D could signal a pull back on NASDAQ:AMZN , would be nice to see a reversal move up further North.
With Monthly OPEX for May behind us, see how it moves from here.
AMZN strong, but not the ultra strong move AAPL had so far on the year. Also giving it more potential before it reaches exhaustion risk like AAPL at current levels.
No FOMO, no chasing for me. Definitely looking for to long AMZN IF this scenario will unfold.
IF this THEN that.
IF not, also fine. There will be hundreds if not thousands more trading opportunities. As long as you stay in the game. Hence, patience.
AMZN breaks upward during upward trendAMZN has made a very Bearish signal by breaking out upwards during an already bullish trend. This creates an unsustainable climb requiring a course correction downward.
Once a trend has been defined up, if the stock breaks out of resistance line above, then it is very likely to fall.
In reverse, if the stock breaks below a doawnward trend, expect a bounce to follow.
Amazon , Buy opportuinty Uptrend
In my opinion, a new uptrend starts after breakout of a descending trend line and also passing a major pivot. Amazon has both conditions and I've started to buy it.
AMZN Entry, Volume, Target, StopWhen price clears: 114.00
With daily volume greater than 158M
Target: 139.50 area
Depending on your risk tolerance: 105.50 gets you 3/1 Risk/Reward.
Resistance: 121 area & 136 area
This trade idea is not trade advice. This swing trade idea is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Update on long term hold chart for $AMZNFor reference:
NASDAQ:AMZN Now at healthy 27% unrealized gain with possible expansion towards a next target of $130. Closing 15% of total position size as we can expect to see a small rejection at the $118 range as shown by the first arrow.
#$AMZN Uptrend or ABC correctionNot financial advice.
# NASDAQ:AMZN will see if this is a Fibonacci uptrend move or just an ABC correction.
so far it seems like is on the move to confirm wave 3. But time will tell.
# NASDAQ:AMZN #Subscribe if you #like my work.
Thank you!
Possible Amazon BreakoutAmazon has been trading in a downward sloping channel for over a year now and yesterday the price closed above this channel trendline. However a drill down into the hourly chart shows some divergence on the RSI that I think could indicate that this might become a false breakout.
I'm yet to be convinced the rally is a trend shift.
AMZN AnalysisPrice playing out nicely as analyzed last week. Price has taken the highs at 114.00 and is currently mitigating the bearish POI. No changes from last week, I'm expecting price to fall from here if we get a confirmation on the lower timeframe.
Amazon -> Finally BullishHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Amazon stock is currently breaking above a major previous weekly structure area exactly at the $105 level which is now turned support.
You can also see that over the past months, Amazon has been creating a solid double bottom, weekly market structure and moving averages are also very bullish, so I am now just waiting for a retracement and then I do expect more continuation towards the upside.
On the daily timeframe you can see that with today's candle, Amazon stock is perfectly breaking above a major previous daily resistance area at the $112 level which is now turned support so I am now just waiting for a retest and then I am looking to get long on Amazon.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
$AMZN - Break of StructureThis market has recently picked up my attention not only because of that ascending triangle base, but also because of its context.
Firstly, let's not forget that this market has been trading below a downward sloping 10 EMA, since the beginning of 2022. Therefore, by default, the bias has been to look for a short opportunity, a set up agreeing with the major trend, a downtrend.
However, that July 2022 bullish candle, with an overwhelmingly above average size, should have been scary enough to leave the bears in this market uncomfortable, at the very least. Yes, bull runs also happen in downtrending markets, but their momentum and candle size tend to be a lot more shy, at least if the bearish dominance in the market is healthy.
Still no bullish trade after that, unless you didn't know what you were doing.
Thereafter the price tested but respected the 10 EMA twice, to resume its downtrend, but this time, the new lower low nearly came with an RSI bullish divergence. Another oversized bullish candle erupted in Jan 2023, concluding a bullish kicker signal candlestick pattern, unveiling once again the presence of the bulls in this market.
And once again, price below the 10 EMA, so you don't want to be bullish on this market ... but now you had 2 above average bullish candles in this market ... would you really feel convertible on the bearish side here? With so many other markets out there, where you can step in once it becomes highly likely that the contrary forces have a weak presence in that market , why would you risk it for ambiguous scenarios?
Only this time, look at the profile shift in this market. Strictly from a price action perspective, look at how the dominant color in this market became green instead of red.
And this ascending triangle pattern took from under the described context.
What's so special about this market that earned it this whole text? A breakout from this base just popped up.
A breakout, which, if sustained, also entails a breakout above a key EMA, which has been respected by the price. And also a breakout which entails a rupture with the previous market structure (lower highs and lower lows) and transition to a new one (higher highs, higher lows - or just a range, we'll see) where bullish trades could become our bias.
Before all the bulls out there jump with joy, remember that the month is still going through its equator. But if the breakout holds and closes, this might as well be a trigger for a bullish trade like the one displayed on the chart ... always with the utmost and paramount respect for sound risk management principles.
Cheers,
Tenacious Tribe - Back Tested Trading Strategies & Studies
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TRADE PLAN FOR AMAZONHi Traders, Another opportunity to buy and hold Amazon for profits. time to shop.
Tradehubng.
Potential base pattern on AmazonWe have identified a potential base pattern on the Amazon share price that will complete on a close above 114, the reaction high that we saw in January.
A close above 114 would complete the base an offer a potential upside target of 147.
One to watch!
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Amazon to gold ratioThis chart shows Amazon stock to gold ratio. There is a clear head and shoulders pattern visible however currently there is a potential trend reversal triangle pattern emerging.
MyMI Option Plays - Amazon (AMZN)Just like AMD, NVDA is retracing back to the 50% level of it's most recent drop as well around $114.82. After announcing that they will be unleashing their own AI, I'm sure the reactions going to start picking up at some point behind that. Although AMZN is made of many other things.
But from an investment standpoint, I would be interested in going long as long as we break that retracement and hold finally.
We shall see!
3 drives pattern forming w/ rounding topanother view of the live chart this time w/ the parallel channel and showing the rounding top w/ the wave count... currently short the C leg of the bullish cypher down to the D leg of the cypher pattern. Keeps price action in the channel for now, but ultimately I see a B leg retrace to 95
rounding top short to D leg of the cyphercurrently seeing a bullish cypher set up on amzn. however, im also looking to short the C leg to the D leg of the bullish cypher. Looking for previous resistances to be tested as support.
190 Target The AD is showing an Ascending Triangle, buy the dipsAMZN wants to retest the supply zone, and this is confirmed by the AD showing an Ascending Triangle pattern to $190, which Is spot on near the previous supply zone
double top short to 95.50 c waveim seeing a double top by the AD along w/ price action + Chikou Span. this is very bearish , setting up a short to C wave 95.50 for amzn
3x top 1st short target 109 bearish abcd pattern all 3x AD, price action, chikou span have topped on the 15min chart, shorting to 109 on the bearish abcd pattern. ultimate target 95.50
ABC/DPossible target is D.
This pattern can reach 100% of leg AB, or a lesser or greater fib level of leg AB.
Possible resistance at point B.
Dashed line projected from C is approximately 100% AB.
Price is above the 50% level of the trend up and below the .382.
No recommendation.
AMZN Harmonic ABCD Pattern I have drawn ABCD Harmonic pattern on Amazon stock by using Fib retracement. Entry and exit levels have been defined along with profit and loss, however we will wait and watch the break out of point "B". Furthermore point "D" is our potential reversal zone, as per analysis after the breakout of point B, it will hit point D and then reverse back (at point D we will check the Divergence as well).
